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Credit repair is like a game of cat and mouse

The job of the credit repair expert is to know where, how and when to setup the mouse traps. Credit Reporting Agencies, Collection Agencies, Banks and Credit Card companies get sued 1000’s of time per year. Many of the lawsuits that are filed against the companies are born out of neglect.

The collection agencies, banks, credit reporting agencies and credit card companies consistently report inaccurate, unverifiable and outdated data. Reporting of inaccurate, outdated and unverifiable data is a violation of several laws and acts….. The FCRA (Fair Credit Reporting Act), FACTA (Fair and Accurate Credit Transactions Act), FCBA (Fair Credit Billing Act), HIPPA (Health Insurance Portability & Accountability Act) all have consumer protections. The consumer protection sections of each of the laws must be understood thoroughly to best serve your clients…

Each of the mentioned laws and or acts have special provisions that deal with, collection agencies, credit reporting agencies, original creditors and/or medical providers. Understanding which laws apply to which entities is VERY important. For example: If you were to send a letter to a collection agency stating that they have violated the X consumer protection act and the must comply within X days or you will file a complaint will be useless unless the correct law and statute are noted…

Mentioning laws and quoting statutes can be useful and detrimental when writing dispute letters… There are always multiple ways to look at different situations and statements. Understanding the law is important BUT- Quoting it in a FORM letter is not always useful for a couple of reasons… One reason that quoting a law in a dispute letter can work against you is- if you quote the law incorrectly, or if you quote the law in a way that makes your letter appear like a form letter…

Credit Reporting Agencies DON’T LIKE DISPUTE LETTERS!!! In fact- each dispute letter costs the credit reporting agencies money! Credit Reporting Agencies attempt to minimize the time spent per dispute in many ways… they must incentivize their staff based on the time spent and they create and continue to advance computer systems to automate the dispute process…

As a professional credit advisor and professional credit expert you must understand the complexities of the credit dispute process and how you can benefit from the credit reporting agencies incompetence….

Your friend in the Credit Business

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  1. moshe silber says:

    hi mike first off just want to tell you your an awesome speaker and really produtive one and i allways got your emails since i signed up for your service and i thought another scam they will email me every day but i actully started reading it and your company and your self are the best and i really look fwr in doing alot of business with you thanks alot moshe

  2. Arnita says:

    I totally agree with this article. So many consumer and credit repair download these kind of disputes letters from the internet everyday. Also, the credit bureaus pretty much has the “Form” letter dispute thing down packed. Moreover, the average “educated customer” may not even know those laws. In my opinion, it’s a okay to sound educated and know your stuff but when it comes to adding in law incorrectly, the credit bureaus acknowledges quicker and fail to take the actual dispute seriously.

  3. Hi Mike,

    I’ve actually read this article from you probably about 4 times, lol. But I really like it. One of the girls I met through DisputeSuite has a friend who actually used to work at one of the credit reporting agencies. And she was told that the representatives processing the letters that don’t make it through OCR have a time limit of 1 minute or less to read and process that letter. That’s the quota they’re on. So if your letter is too long, it may not be read – or at least not the whole letter. Isn’t that something! I tell you … this is what really makes me so excited about HELPING THE CONSUMER! Thanks Mike and Keep up the Great Work! 🙂

  4. Chad says:

    I enjoyed the webinar today. I learned some things and solidified others that we are already doing.

    Thanks
    Chad

  5. David says:

    Your information on your blog is invaluable. It is so true that quoting the law incorrectly can completely undermine your chances of getting the bureau to take you seriously.

    I loved the webinar today about the CLE program! As an attorney I can see the value of using the state bar and the CLE system to inform and drive marketing of intelligent sources. I look forward to getting the book, CLE powerpoint presentation, bio template. We are grateful we found your company when we were searching for management software for our new firm! Thanks

  6. BB says:

    Enjoyed your articles AND the call today. Your fast talking, coupled with clear, concise content, works for me. Not of fan of the typical blah, blah, blah calls, that go on forever.

  7. i thought the first was realy good then a little old in middle i do have a craigs list tip we have great sucess on making an add then taking a photo of it then posting it on different city for affilliates to sign up would like info from on ox plub or boot camp person 65 to 90 point jump how long did it take for up date

  8. Gagandeep Majhail says:

    This is a comment about the July 16 webinar. It was very informative as usual and I will continue to attend the webinars. A lot of clients want garantees form us and I cannot garantee any specific numbers. Any ideas? Also can you e-mail me the articles. Thank you.

  9. Manny C. says:

    What you say above is so true. Once you learn the art form of baiting these mousetraps properly it very often sets up a favorable circumstance with which to dispute what you’ve setup. Sometimes the bait may be provolone and others peanut butter. 😉

  10. Kim says:

    Wow,

    Mike thanks for this article. Although I am in this business I continue to want to do more because of the knowledge gained through your experiences and research. Thanks for this. Also the webinar yesterday was outstanding. I have already put together a plan to start seminars as early as Monday. I await the emails you advised us you would send and any other information you may have shared in the past before I knew about you. You are truly going to make us credible in this industry because you are INcredible!.

    Kim

  11. Andrew Curry says:

    Mike,

    I really appreciate you taking the time to do the webinar’s. They are extremely informative. I also really appreciate the free letters and items to assist us in the business better our success rate. This truely shows you are in the business to better the quality of the work.

    Andrew

  12. Troy Hitt says:

    Great webinar today Mike. I look forward to helping my customers settle some of those stubborn debts. Peggy is very gracious to afford those letters to us, Yay! Peggy! Damien sounds like he has a niche for getting referrals cant wait to see his powerpoint and use your free software to start my own presentation. LOVE THIS INDUSTRY!

    Troy Hitt
    Houston “By God” Texas

  13. Sean says:

    I enjoyed the webinar today. I always learn something new!

  14. curtis weaver says:

    Can you please touch on complexities of the credit dispute process and give practical everyday tips into the crux of the work I think this would help like this article. Thanks again.

  15. This article is very useful, as all the advice you give is. I really enjoyed the conference call today and Ron was a great addition. What he said gave a great perspective on what it is credit repair companies are here to do.

  16. Joe Frey says:

    Do you have any expanded information on this subject. We don’t threaten law suits very ofted but would like to get more informed on the subject.

  17. Joe Frey says:

    Great webinar, I am just so impressed with the amount of valuable information shared. I make it a priority to listem every week. Keep up the good work!

  18. @MikeCitron says:

    WOW- I didn't realize the title "Credit Repair is like a game of cat and mouse" would get so much attention?

  19. Raul says:

    Mike, thanks for noting this in the article. I fairly new & was thinking about quoting the law in my letters to the bureaus, this definitely tells me I should not do it without really knowing what I'm quoting & why. Bottom line: need to learn more about this before using it.
    Your webinars are great, keep them up. Great you talk this fast, you are able to give us lots of valuable information in little time. I've attended the last 3 & ended up motivated to keep attending every week.
    Raul

  20. Holly Jewell says:

    It was great to learn about the PACER system. I think I might be able to access this same info on the county clerk's website for free…I'll see if it shows as much detailed information as the PACER system. I was also glad to get the tips on targeting bankruptcy lawyers and how to find top filing attorneys. I look forward to continued webinars on targeting various markets that need credit repair services! Thanks again Mike, Michael and Ron!!

  21. David Clifton says:

    Hi Mike:

    Great webinar today. You guys are tops.

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